Case Study On Euro Land Foods Finance Essay

Case Study On Euro Land Foods Finance Essay The company was founded in 1924 by Theo verdin a previous as a subsidiary of his dairy business. His keen attention to product Development and grew business steadily over the year .the company went public in year 1979 and by 1993, was listed on trading in the London and Germany exchanges. In January 2001, the senior management of Euro land foods was to draw the firm’s one year capital budget and up for new 11 major projects are imposed to spending limit on capital of 120 million pound. Investment at that rate would be representing a major increase in the firm’s current assets base on 965 million pound. The senior manager challenge of Euro land foods to allocate funds among a range of compelling project, new product introduce and preventive maintenance, safety and pollution control. As a matter of policy, investment proposals at Euro land foods were subject to two financial test, payback and internal rate of return. NET PRESENT VALUE (NPV) The net present value (NPV) re quires cash flow discounting by making use of the so-called risk-adjusted cost of capital, which serves the purpose of accounting for risk. A widespread model employed for computing the cost of capital is the capital asset pricing model (CAPM). Rubinstein (1973) and other scholars in the late 1960s and 1970s have provided the link between CAPM and capital budgeting decisions: in their classical contributions they show that, if the CAPM assumptions are met, then the cost of capital is a function of the systematic risk, which is given by the beta of the project. The latter depends in turn on the cost of the project, which implies that it is a disequilibrium beta. The corresponding NPV is therefore disequilibrium NPV. If†¦ It means†¦ Then†¦ NPV > 0 the asset would add value to the definite the venture may be acknowledged NPV < 0 the asset would take from value as of the firm the plan should be unwanted NPV = 0 the asset would neither gain nor misplace value for the firm We should be uncaring in the conclusion whether to accept or refuse the project. This plan adds no monetary value. Decision should be base on other criteria, e.g. designed position or other factors not evidently included in the calculation. Formula: Npv =CFo+ ___CF____ ( 1+k) n Example:- Year Cash flow Present Value 0 100,000 1 22,727 2 20,661 3 18,783 4 17,075 5 15,523 Internal rate of return:- It is a different economical cash flow practice which takes report of the extent and time of cash flow. Formula: – IRR=LOWER RATE+ npv at lower rate x (HIGHER RATE -LOWER Rate) Npv at lower rate -NPV at higher rate Example 1. If a speculation may be given by the chain of cash flows: Year (n) Cash Flow (Cn) 0 -4000 1 1200 2 1410 3 1875 4 1050 Then the IRR  r  is given by . In this case, the answer is 14.3%. 1. Project with NPV and IRR:- The research on the resource-constrained project scheduling problem is focused mainly on two types of objectives: objectives based on time and obje ctives based on cost. Both of these factors, i.e. time and cost, are indispensable in practical applications. Year

Final Exam Essay Example | Topics and Well Written Essays - 750 words

Final Exam - Essay Example Word documents are acceptable by the system, uploaded documents can not be graded automatically and thus create major problems. Save the attachment (.doc) or copy and paste the quiz and the answer sheet to your word processor. Enter your answers directly  into your word processor version. When you have finished entering your answers, save your answers to your computer (always keep a copy of your work).   To submit your exam, please go to your Assignments Folder and click on the tab for FINAL EXAM. Copy and paste your exam answers into the text box and click on "Submit For Grading." (Attachments are acceptable but try copying and pasting first, let attachments be your last resort). Using the Rich Text Editor (RTE) will help preserve the formatting of your answer sheet; consult the Help Desk if you need help with installing or using the RTE. (In the upper right-hand corner of your screen, see Options, then Account Preferences to enable the RTE.) If you have any questions please con tact WebTycho support line! Q. 1 – 40: Objective-Type Questions (1 point per question) Please use alphabet answers where applicable. 1. D 2. D 3. A 4. C 5. D 6. B 7. B 8. E 9. C 10. B 11. A 12. B 13. C 14. D 15. D 16. A 17. A 18. C 19. A 20. D 21. A 22. A 23. C 24. E 25. D 26. A 27. D 28. B 29. D 30. A 31. L 32. J 33. C 34. N 35. D 36. H 37. I 38. M 39. F 40. K Essay Questions (10 points each). Choose and answer only six (6) essay questions. If you answer more than six, only the first six will be graded. Essay # 2 A)- Five structures present in a human knee joint are; i- Patella ii- Bursae iii- Meniscus iv- Articular Cartilage v- Joint Cavity B)- Two types of arthritis are described below: Osteoarthritis, also called degenerative joint disease, usually occurs in elderly people because of normal wear and tear. Although it appears to be a natural result of aging, such factors as obesity and repeated trauma can contribute to the disease. Osteoarthritis occurs mostly in joints us ed in weight bearing, such as the hips, knees, and spinal column. It involves breakdown of cartilage and narrowing of the joint space, with growth of bone spurs at the edges of the joints. The disease can be avoided by staying active and getting exercise to help maintain the joint and overall movement. Rheumatoid arthritis is a crippling condition characterized by joint swelling in the hands, the feet, and elsewhere as a result of inflammation and overgrowth of the synovial membranes and other joint tissues. The articular cartilage is gradually destroyed, and the joint cavity develops adhesions so that the joints stiffen and ultimately become useless. The exact cause of rheumatoid arthritis is uncertain. However, the disease shares many characteristics of autoimmune disorders, in which the immune system attacks the body’s own tissues. The role of inherited susceptibility is clear. Successful treatment includes rest, appropriate exercise, medications to reduce pain and swellin g, and suppression of the immune response. Essay # 4 A)- The nephron is the basic urine forming unit of the kidney. The nephron regulates the proportions of urinary water, waste, and other materials according to the body’s constantly changing needs. B)- The five parts of nephron are; i- Afferent Arteriole ii- Proximal Convoluted Tubule iii- Distal Convoluted Tubule iv- Loop of Henle v- Collecting Duct C)- The above mentioned parts are located in the following sections of the kidney; i- Afferent Arteriole -- is located in the renal cortex. ii- Proximal Conv

Pharmacology in nursing-Psychiatric disorder Assignment

Pharmacology in nursing-Psychiatric disorder - Assignment Example On the other hand, FGAs have less efficiency and adverse side-effects characterized by extrapyramidal side-effects. In spite of their efficiency, SGAs also have their own side-effects such as weight gain and the ability to increase vulnerability to diabetes. As such, treatment of depression and psychosis requires careful consideration of various factors, such as age, pre-existent conditions, and polypharmacy among many other factors before making a choice of the treatment drug. In addition to making a choice on the antipsychotics applicable, medical practitioners also have to consider the possibility of incorporating non-pharmacologic approaches such as psychotherapy for youth with difficult-to-treat depression. Additionally, issues of patients using herbal medications, such as St. John’s Wort, have to be advised appropriately to avert potential harm and side-effects from polypharmacy. This paper critically reviews the use of antipsychotics in the treatment of psychosis and de pression. It also briefly highlights the use of psychotherapy and alternative medicine-St. John’s Wort. ... that vary in severity, and these may include schizophrenia, bi-polar disorder, schizoaffective disorder, drug-induced psychosis and psychotic depression. Psychosis affects approximately 3% of the United States (U.S) population, with 1% of the cases being schizophrenic (Lehne, 2012). On the other hand, depression is a mood disorder condition characterized by feelings of sadness, anger, loss, frustration and aversion of activity. These are common feelings, but actual clinical depression is a situation in which these feelings occur often and cause interference on day-to-day activities. The condition may also elicit other behaviors such as overeating, which could finally lead to obesity. Epidemiologic statistics show that depression is prevalent in the most developed nations, with U.S. being the leading nation. Lifetime prevalence differs greatly from 3% in Japan to as high as 17% in the U.S. Populations in most nations experience depression at a rate ranging between 8% and 12% (Lehne, 2 012). The treatment of psychosis and depression has for a very long time relied on antipsychotics as the first line of treatment. In addition to the pharmacological approach, family and cognitive behavioral therapies have also been recommended for long-term treatment. The use of antipsychotics has in the past presented mixed reactions among users and still continues to present a dilemma in the treatment of psychosis and depression. Notably, the challenge appeared in 2004 and 2005 when the Federal Drug Administration (FDA) recommended a â€Å"black box warning† on antidepressants used to treat depressed and psychotic adolescents (Ho, 2012). A â€Å"black box warning† is any alert that appears on the insert of any prescription and warns against adverse effects of using a certain drug. In the

Playboy Of The Western World: Discovering Reality Essay -- essays rese

In order to counter the unreality of Ibsen and the bleakness of Chekhov, John M. Synge has chosen a seemingly unbelievable story to create his realist masterpiece, The Playboy of the Western World. Its realism comes from two unlikely sources: joy and a far-fetched tale. Yet, as Synge identifies himself in the preface, these elements in combination are extremely effective in showing the life of the peasantry; more so than any bleak or so-called "real" story (in the manner of Ibsen) could.The problem with showing the peasant class in a bleak manner is that, by virtue of their position, the audience knows their life is bleak in terms of money. By featuring a peasant class, it would be redundant to make a movie about their lack of finances, intelligence, or other virtues not usual...

Globalization of the U.S. Subprime Mortgage Crisis Essay

The U. S sub prime Mortgage Crisis upset the world financial markets. The economy of the United States of America could combat the mortgage foreclosures for its efficiency. The global investors were wary of the fact that the sub prime mortgage crisis is a symptom of some unknown problems that the US economy is suffering from. In 1994, an almost insignificant less than 5% of all the mortgages in the U. S were sub prime. However by 2005, the figure had risen drastically to 20%. Sudden changes in the banking system were responsible for this increase. Earlier, mainly commercial banks were used to serving the American societies and they mainly offered fixed charge mortgages. In Detroit and in Boston this figure was 24. 6% and 15% respectively, whereas in California this figure was 14%. After a long period of stable interest rates with only a small downward trend, the rates started increasing. This decreased the demand for homes and hence causing a decrease in home prices. There was competition between the mortgage finance companies and mortgage brokers and the traditional banks in offering some new products. This growing competition produced a number of mortgage products and choices like sub prime loan of different varieties for the American consumers. Homeowners could not combat the increases in payments or even sell their homes because of market price depreciation. Almost 77% of the homes were overvalued in big cities like California (Enoch & Charles, 2007). Causes of the current U. S sub prime mortgage crisis. There seems to a common consensus that periods of rapid credit growth are accompanied by loosening lending standards. The former Federal Reserve Chairman Alan Greenspan pointed in his speech to the Independent Community Bankers of America in 2001 that there was an unfortunate tendency among bankers to lend aggressively at the peak of a cycle and noted that this aggressive kind of lending could result to bad loans. This therefore means that the credit boom in America had a hand in causing the current sub prime crisis. Indeed more of the major banking crisis in the last a quarter a century occurred at times that there was an extremely fast credit growth. However not all credit booms are immediately followed by a banking crisis. For instance in a study by Barajas et al (2007), of the 135 credit booms that were identified, only 23 of them preceded a systematic banking crisis with this proportion increasing to 31 if the non-systemic episodes of financial distress are included. However almost half of the banking crisis were preceded by a credit boom. Larger and longer-lasting credit booms and those that have coincided with higher inflation and lower growth are more likely to end up in a crisis. Booms associated with fast rising assets and real estate prices are also more likely to lead to a crisis. The increase in home prices in early 2000 was completely unrealistic and made the homeowners believe that home prices will continue increase and make future refinancing and subsequent mortgages quite profitable. The loose standards made them believe that in buying expensive homes than they could have afforded with the traditional fixed rates loans and more expensive than they can afford now with their adjustable mortgage loans resetting. Most of the players in the mortgage market contributed to the crisis. Homeowners, brokers, lenders, rating agencies regulators, investors and central banks all played a role in the crisis. The homeowners ran into flexible loans with no understanding of them and even some lied on stated income loan applications (Giang, & Anthony, 2007, p. 39). The lenders hurriedly offered riskier loans to borrowers as loan products with adjustable rates transfer great part of a risk from the lender to the borrower. This risk transfer is the reason was the main contributing factor as to why the offered higher commission to brokers if they sold adjustable loan. Brokers were also controlled by greed and started offering adjustable mortgages to borrowers who would qualify for prime loans. However, lenders never expected such huge foreclosures and extreme flooring of house prices. Central banks and other huge investors have experienced significant losses as a result of mortgage asset devaluation. The risk of investing in securities backed by mortgage never came to realization as should have been. The investor mainly relied on investment grade ratings applied to mortgage backed securities by rating agencies. Historical data backed models are mainly used by rating agencies to provide investment rating. Mortgage backed securities have excellent historical date whereas adjustable mortgage loans and their innovative variations being new products on the mortgage market have no historical data. The regulators missed to prevent the crisis through legislation that would regulate higher lending standards. They can play a great role in prevention of an economic crisis (Eric, 2008). Global Spread of the U. S sub prime mortgage The recent volatility in the global financial markets due to the US sub prime mortgage has not spared banks throughout the world. In Saudi Arabia, banks have been able to absorb only minimal exposure to distressed loans. For instance, Saudi Basic Industries Corporations have faced some constraints. Superficially, the happenings of the global market seems little unaffecting to Saudi Arabia. However since the peaking of the US stock markets, the Tadawul All-share Index has been maintaining an upwards trend. For instance, strong demand meant that investors accepted a lower yield than previously indicated for a SABIC bond in the month of July 2007. In this case, the bulk of demand came from Middle East and mainly from Saudi Arabia. Other bonds issued by the Gulf Cooperation council suffered and a greater caution could likely have had an impact on investor perceptions of Saudi Arabia risk. Higher credit spread had increased the cost of borrowing even after taking into consideration any reduction in the Federal funds rate. Even though the costs of borrowing were not high to deter borrowing, the prospect of issuing debt had deteriorated forcing the companies to revise their plans. This placed an opportunity to large Saudi investors who are not reliant on new or foreign borrowing and therefore were better positioned to acquire foreign assets, generally at lower prices than prior to recent market moves. Saudi Arabia has been developing its mortgage market though the mortgage law is still to be approved, the housing finance industry is beginning to take off and there are loans available for homeowners to secure. However with the legal and regulatory infrastructure not in place, the crisis in the US has slowed the growth. The crisis in the US also hit demand and thus prices for other commodities produced by Saudi Arabia such as plastics. Lastly, due to the exchange rate peg, the interest rates were cuts further and this further the riyal weakened along with the dollar (Gerry & Paul, 2007). European country such as the United Kingdom and Spain faces an even larger housing problem as lenders are becoming more cautious. This implies that consumer spending in Europe is also experiencing the crunch of the US sub prime crisis. The current slowdown impacts on all parts of the chemical industry as housing is a key source of chemical demand. Sectors that directly supply the housing and automotive sector in the West are hardest hit. In the United Kingdom, though there are different circumstances, the effect of the US sub prime mortgage crisis are being experienced. First, there are fewer mortgages given to people of less credit worthiness compared to the other mortgages in the market in the UK whereas in the US this proportion is significantly large. In addition, about half of the borrowers in this proportion of sub prime mortgage in the UK do not have a history of significant payment problems. Secondly, the interest rates in the UK have been relatively stable compared to the US where there had been rapid rises in interest rates. Thirdly, in the UK, the house prices have been booming compared to the Us where the house prices have been decreasing leaving borrowers mired in negative equity and unable to sell their homes in order to service their loans. Finally, the lending criteria in the UK are much stricter than in the US that have been loose. However, despite all these the effect of the US sub prime mortgage crisis is being felt in the UK with the Bank of England taking a warning of then dangers of bailing out institutions that had taken reckless lending decision for profits. It also leads to the Bank of England cutting interest rates at the start of 2008. The US sub prime mortgage crisis has an impact on the Germany economy where the hardest hits are the German banks. The Industrial bank in Germany managed a fund that had invested in credit portfolios, which included US sub prime real estate loans. Commerce bank, which is the second largest bank in Germany, reported that the US subprime mortgage market had cost it 80 million euros in the second and last quarter of the financial year 2007. In the financial years 2007/2008, IKB expects that the crisis will influence negatively on its projected earning of 280 euros (Christopher, 2008). References Christopher B. L. (2008). The Next Slum, The Atlantic Monthly.New York: Oxford university press. Enoch and Charles. (2007). Rapid Growth in Credit: Endless Boom or EarlyWarning? New York: International Monetary Fund and Palgrave. Eric Janszen. (2008). The next bubble: The markets for tomorrow’s big crash. London: Harper’s press. Gerry, G. & Paul, F. (2007). A House of Cards: from fantasy finance to global crash. London: Lupus Books. Giang, H. and Anthony. (2007). â€Å"The Varying Effects of Predatory Lending Criteria on Mortgage Applications†, Reserve Bank of St. Louis Review 89(1), pp. 39-59.

Marine Biology Terms

Violence Against Children Essay - 1013 Words

Violence against children is a phenomenon happening worldwide, in forms of physical, psychological violence. Children are deprived of care, basic social services, health care and education, child abuse, neglect, exploitation, forced to beg, trafficked. Children are still one of the social groups at risk, facing many problems that remain unresolved. Although the consequences may vary according to the type and severity of the violence, the short and long-term consequences for children are very often serious and destructive and are costly. The laws that protect children’s rights are often not effective. Child abuse takes a variety of forms and is influenced by a variety of factors, individual characteristics of the victim and abuser, the†¦show more content†¦Acceptance of child abuse is also an important factor: both children and abusers may accept physical, sexual and psychological violence as inevitable and normal. Discipline through physical and humiliating punishment, bullying and sexual harassment are often perceived as normal, especially when they do not result in harm visible or lasting. Suffering children are invisible when cases of abuse or neglect are not claimed, in certain situations; people do not trust the police, social services and other state authorities. In the current period more than ever, to prevent any unsuitable behavior, it must be well justified and financially prepared. There is little information available about the global economic costs of violence against children. However, the bill for such actions against children proves to be high. The varie ty of short and long term consequences associated with violence against children suggests that there are significant economic costs to society. 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